| | |

Archive search


Fulltext search
Advanced filter

QUANTITATIVE EASING EFFECTS ON EQUITY MARKETS – EVENT STUDY EVIDENCE FROM THE US

Leoš Šafár, Marianna Siničáková

After financial crisis in 2008, both financial and non-financial institutions, governments and monetary authorities as regulators faced great challenges in overcoming recent depression. Although different market participants in different fields reacted and accommodated in their own ways, they relied on monetary authorities more than they did before crisis. Monetary authorities were in position to deliver policies accommodative enough to stimulate economy, or at least reduce damage cumulated during crisis period. From our point of view, first step was pushing interest rates near zero level or lower in order to loosen borrowing conditions. But, on the other hand, monetary authorities approached to changes in legislation in order to prevent situation that caused crisis in the first place. In other words, meeting requirements for getting access to capital become stricter.
more

MEASURMENET OF INFLATION FORECAST TARGETING. A PROPOSAL OF METHODOLOGICAL SOLUTION

Magdalena Szyszko

Modern monetary policy focuses on inflation expectations. It is consistent with modern monetary theory: new neoclassical synthesis (NNS). NNS gives the background of monetary transmission mechanism. New Keynesian Phillips Curve, IS curve (production equation) as well as central bank’s reaction function include economic agents’ expectations.
more

EFFECTIVENESS OF THE MONETARY POLICY IMPLEMENTATION IN THE CONTEXT OF CRISIS: USE OF SHORT-TERM INTEREST RATE IN THE CZECH REPUBLIC AND THE EMU

Ľudmila Bartóková, Júlia Ďurčová

The recent economic crisis and the events that followed, namely the debt crisis, pointed to a number of issues of European Economic and monetary union (EMU), such as particularly persistent asymmetries and differences in development. Due to the high interconnectedness of member countries’ economies, it is no longer possible to perceive the problems of one country as isolated, since the negative effects are spread throughout the EMU.
more

?
NAPOVEDA
reguired
Language